Investment sales

Amara
FloridaInvestment salesNews

Black Lion Investment Group Acquires Amara at Paraiso Restaurant Property in Miami for $12.1 Million

by Julia Sanders

Miami — Black Lion Investment Group has acquired a waterfront restaurant building in Miami occupied by Amara at Paraiso from Related Group for $12.1 million. Fabio Faerman and Sebastian Faerman of Miami-based FA Commercial represented both parties in the transaction. The 12,300-square-foot building is part of a larger project that includes the residential complex Paraiso Bay, which contains 1,300 residential units. James Beard Award-winning chef Michael Schwartz is at the helm of the popular indoor-outdoor restaurant.

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Lancer Center
Investment salesNewsSouth Carolina

JLL Arranges $9.9 Million Sale of Lancer Center in Suburban Charlotte

by Julia Sanders

Lancaster, S.C. — JLL Capital Markets has arranged the $9.9 million sale of Lancer Center, a 178,626-square-foot super regional shopping center anchored by KJ’s Market in the Charlotte-area community of Lancaster. Tom Kolarczyk of JLL represented the undisclosed seller in the transaction. John Gavigan of JLL represented the new owner, Medalist Diversified REIT Inc., in securing a $6.6 million, five-year, fixed-rate acquisition loan through Cooperative Business Services. Lancer Center was constructed in 1983 and most recently renovated in 2013. The 97 percent-leased center is home to Big Lots!, Harbor Freight …

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FloridaInvestment salesNews

6500 4R3G Purchases CVS/pharmacy in Orlando for $6.9 Million

by Julia Sanders

Orlando, Fla. — 6500 4R3G LLC has purchased a CVS/pharmacy in Orlando for $6.9 million. The property is approximately 13,000 square feet and is located at 7300 Curry Ford Road. David Stevens of Investment Properties Corp. negotiated the disposition on behalf of the seller, Arcostar LLC. Alexandros Pappas of Haute CRE LLC represented the buyer in the transaction.

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Fazoli
Investment salesIowaNews

Boulder Group Brokers $1.2 Million Sale of Restaurant Property in Des Moines

by Julia Sanders

Des Moines, Iowa — The Boulder Group has brokered the sale of a restaurant property occupied by Fazoli’s in Des Moines for $1.2 million. The 3,350-square-foot building is located at 3600 Merle Hay Road. Randy Blankstein and John Feeney of Boulder represented the seller, an undisclosed investment firm based in Texas, in the transaction. A Midwest-based investor was the buyer. Fazoli’s, an American fast-casual restaurant chain, has more than 10 years remaining on its lease.

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Investment salesKentuckyNews

Marcus & Millichap Arranges $5.6 Million Sale of a Four-Property Dollar General Portfolio in Kentucky

by Julia Sanders

Paintsville, Danville, Eastern and Girdler, Ky. — Marcus & Millichap has arranged the $5.6 million sale of a four-property Dollar General portfolio totaling 36,400 square feet. Darpan Patel, Dan Yozwiak and Matthew Johnson of Marcus & Millichap represented the seller, James Myers of Kentucky Lodging and Development, and secured the buyer, Harrimack Holdings Acquisitions LLC, in the transaction. Colby Haugness, also of Marcus & Millichap, assisted in closing the transaction. The portfolio includes four Dollar General locations throughout Kentucky. Properties are located at 1370 Euclid Ave. in Paintsville; 6595 Alum …

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Shopping Center
Investment salesNewsOhio

Joint Venture Acquires Two Shopping Centers in Ohio

by Julia Sanders

Springfield and Urbana, Ohio — A joint venture between Timber Development Corp. and Honey and Vinegar Realty has acquired two shopping centers located in Ohio. Acquisitions include Eastside Square, a 20,000-square-foot center shadow-anchored by a 205,000-square-foot Walmart Supercenter in Springfield, Ohio; and Urbana Commons, an 18,000-square-foot center shadow-anchored by a 185,000-square-foot Walmart Supercenter in Urbana, Ohio. Jack Cornell of SRS Real Estate Partners represented the seller in the transaction.

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Shepard Place
Investment salesNewsTexas

BH Properties Buys 361,780-Square-Foot Preston Shepard Place Shopping Center in Metro Dallas

by Julia Sanders

Plano, Texas — Los Angeles-based investment firm BH Properties has purchased Preston Shepard Place, a 361,780-square-foot shopping center in Plano. Originally built in 1995, the property houses tenants such as Marshalls, Burlington and Tuesday Morning. The 31-acre Shepard Preston Place was 55 percent leased at the time of sale. The seller and sales price were not disclosed.

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ColoradoInvestment salesNews

McWhinney, Prism Places Acquire 662,000-Square-Foot Foothills Mall in Fort Collins, Colorado

by Julia Sanders

Fort Collins, Colo. — A joint venture between McWhinney and Prism Places has purchased Foothills, a regional mall located on 63 acres at 215 Foothills Parkway in midtown Fort Collins. Totaling 662,000 square feet, the property includes a 128,000-square-foot Macy’s department store and originally opened as Foothills Fashion Mall in 1973. The acquisition includes all of the mall’s assets and buildings, with the exception of the parking structure and surface parking fields — which are owned by Foothills Metro District — and the Foothills Activity Center, which is owned by …

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Investment salesMissouriNews

Neyer Properties Purchases 400,000-Square-Foot Commercial Portfolio Across Cincinnati, St. Louis

by Julia Sanders

Cincinnati — Neyer Properties has purchased a nearly 400,000-square-foot commercial portfolio occupied by Watson’s in a sale-leaseback transaction. The purchase price was undisclosed. The four-building portfolio consists of three retail assets and one industrial property that are located in the Cincinnati, Florence, Dayton and St. Louis markets. The sale-leaseback will enable Watson’s to free up capital as it looks to expand in additional markets, according to Neyer. Keith Yearout of Newmark represented Watson’s, which is a pool, spa and furniture retailer based in Cincinnati.

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Investment salesNewsTexas

VOP Partners Buys 343,911-Square-Foot Village on the Parkway Retail Center in Metro Dallas

by Julia Sanders

Addison, Texas — VOP Partners LLC has purchased Village on the Parkway, a 343,911-square-foot retail center located in the northern Dallas suburb of Addison. Anchored by Whole Foods Market and AMC Theatres, the 32-acre center was originally built in 1981 and redeveloped in 2014. Other tenants include RA Sushi, Neighborhood Services, Yard House, Hopdoddy Burger Bar, Sidecar Social and Pie Tap. Barry Brown, Chris Gerard, Ryan Shore, Jason Jacobs and Matthew Barge of JLL represented the undisclosed seller in the transaction.

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